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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. As Lewis gets more experience at Salomon Brothers, he realizes that an inexplicable aspect of studying to be an investment banker is that _______ serves no function in an investment bank.
(a) A college degree.
(b) Making plans.
(c) Politeness.
(d) Economic theory.

2. The back row trainees at Solomon Brothers are victims of the myth that a trader is a _____.
(a) Messiah.
(b) Savage.
(c) Quarterback.
(d) Dictator.

3. The face of Dale Horowitz reminds the author of whom?
(a) Donald Duck.
(b) Ronald Reagan.
(c) Yogi Bear.
(d) Bugs Bunny.

4. What floor at Salomon brothers is said to have low ceilings, no windows, and the charm of an engine room?
(a) The ground floor.
(b) The fortieth floor.
(c) The thirty-seventh floor.
(d) The forty-first floor.

5. According to the book, investment banking candidates are expected to be _______.
(a) Intellectuals.
(b) Culturally literate.
(c) Brash.
(d) Open-minded.

6. What is photocopied 126 times from The New York Times and distributed among the trainees each morning?
(a) The crossword puzzle.
(b) The front page.
(c) The business section.
(d) The comic section.

7. Bob Dall and Stephen Joseph create the first _____ of mortgage securities.
(a) Private issue.
(b) Legislative block.
(c) Public offering.
(d) Successful recall.

8. What is the nickname for the Government National Mortgage Association?
(a) Ginnie Mae.
(b) Freddie Mac.
(c) Fanny Mae.
(d) Johnny Mac.

9. According to the author, all a man has in the markets is his _____.
(a) Word and honor.
(b) Gall.
(c) Drive and determination.
(d) Wits.

10. The author describes England as the land of ________.
(a) Haggis.
(b) Royal watchers.
(c) Limp paychecks.
(d) Long lines.

11. Massey is not looking for curious minds among trainees, he is looking for _____.
(a) Obsequious coffee-getters.
(b) Bulls.
(c) Cookie-cutter versions of himself.
(d) Cult followers.

12. In 1979, which company specializes in junk bonds?
(a) Drexel Burnham.
(b) Shearson.
(c) Salomon Brothers.
(d) Lehman.

13. The trainee who finally asks a question at Massey's training session wonders if Salomon Brothers will open an office in what city?
(a) Rome.
(b) Prague.
(c) Vienna.
(d) Montreal.

14. One of the major incentives that legislators create to encourage the borrowing of money is the _____ of mortgage payments.
(a) Variability.
(b) Price reduction.
(c) Tax deductibility.
(d) Investment advantage.

15. According to the author, the reason Wall Street has initially ignored his resume is that all the representatives from large firms say that he lacks ______.
(a) Commercial instincts.
(b) Chutzpah.
(c) Motivation.
(d) A wealthy background.

Short Answer Questions

1. What sort of important dinner is the author invited to attend?

2. A row of Bic fine-point pens in a plastic case in the breast pocket of someone who works on Wall Street is commonly called a _____.

3. Lewis observes that the cruelty that traders bestow on everyone in their wake is _____.

4. According to the author, what is Gutfreund's only noticeable affectation when he comes to speak to the trainees?

5. According to the author, in order for the home mortgage to become a bond, it has to be _____.

(see the answer keys)

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